Wells Fargo & Company (NYSE:WFC) Stock Holdings Increased by TCTC Holdings LLC

TCTC Holdings LLC raised its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 2.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,525 shares of the financial services provider’s stock after acquiring an additional 152 shares during the period. TCTC Holdings LLC’s holdings in Wells Fargo & Company were worth $529,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Signaturefd LLC raised its stake in Wells Fargo & Company by 7.2% during the 4th quarter. Signaturefd LLC now owns 53,657 shares of the financial services provider’s stock valued at $3,769,000 after acquiring an additional 3,625 shares in the last quarter. Cibc World Markets Corp raised its stake in Wells Fargo & Company by 6.2% during the 4th quarter. Cibc World Markets Corp now owns 710,022 shares of the financial services provider’s stock valued at $49,872,000 after acquiring an additional 41,679 shares in the last quarter. GLOBALT Investments LLC GA raised its stake in Wells Fargo & Company by 26.7% during the 4th quarter. GLOBALT Investments LLC GA now owns 129,240 shares of the financial services provider’s stock valued at $9,078,000 after acquiring an additional 27,211 shares in the last quarter. First National Advisers LLC raised its stake in Wells Fargo & Company by 5.1% during the 4th quarter. First National Advisers LLC now owns 72,488 shares of the financial services provider’s stock valued at $5,091,000 after acquiring an additional 3,503 shares in the last quarter. Finally, GWN Securities Inc. bought a new stake in Wells Fargo & Company during the 4th quarter valued at $390,000. Institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

WFC has been the topic of several research analyst reports. Keefe, Bruyette & Woods lifted their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research report on Thursday, January 16th. Piper Sandler lifted their price target on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Morgan Stanley lifted their price target on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Royal Bank of Canada upgraded Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a research report on Thursday. Finally, Truist Financial lifted their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.39.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $70.96 on Monday. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $81.50. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $233.31 billion, a price-to-earnings ratio of 13.19, a P/E/G ratio of 1.18 and a beta of 1.16. The stock’s fifty day simple moving average is $75.89 and its 200-day simple moving average is $69.01.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter in the previous year, the company posted $0.86 earnings per share. Wells Fargo & Company’s revenue for the quarter was down .5% compared to the same quarter last year. On average, sell-side analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.25%. Wells Fargo & Company’s dividend payout ratio is 29.74%.

Wells Fargo & Company Profile

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.